The need for financial sustainability drives our Strategy refresh. The financial environment has changed significantly. Almost half of our income is static or declining due to undergraduate fee levels being capped by the UK Government. It is even more competitive to secure research funding.
It is imperative we continue to generate sufficient cash to fund our capital programme (Estate and IT infrastructure and equipment) as well as enhancing our day-to-day operations. We will generate cash from our operational activities and by releasing it from existing assets where viable, whilst seeking the most cost-effective funding solutions for acquiring or developing new assets.
What we are already doing well:
We secured a £225m private placement to invest in the priorities as identified in the 2017 Strategic Plan (Teaching and Learning Centre; Mathematical Sciences and Computer Science Building; the new Business School; as well as significant refurbishments across both our existing academic and residential estate).
We have new partnerships with private providers to deliver contemporary residential accommodation, enabling us to invest in the facilities and characteristics that define our college experience.
Further rebalance our student population so that at least 26 per cent of students are from outside the UK by 2026/27, enhancing our international recruitment activity.
Introduce strands of activity which will add to income generation in the medium to long term, such as diversifying our educational programme portfolio.
Enhance our transnational educational (TNE) offer through new institutes and programmes developed jointly with at least one other institution, and other TNE activities.
Significantly enhance our programme of fundraising and philanthropic giving through a targeted global campaign.
Increase income generation from our business enterprise, consultancy and expert services activities, spin-out companies and our intellectual property.
Have a more intensive focus on generating additional income from industry, collaborative and contract research, continuing professional development (including executive education) and from our commercial partnerships and joint ventures.